Zacks Investment Research cut shares of Tesaro Inc. (NASDAQ:TSRO) from a hold rating to a sell rating in a research report released on Tuesday morning.
According to Zacks, “Tesaro, Inc. is an oncology-focused biopharmaceutical company for cancer patients. The Company’s product portfolio consists of Rolapitant, a neurokinin-1 receptor antagonist for the prevention of chemotherapy induced nausea and vomiting, TSR-011, an orally available anaplastic lymphoma kinase inhibitor for the treatment of non-small cell lung cancer and other cancer indications, and Niraparib, an orally active and potent poly (ADP-ribose) polymerase inhibitor for the treatment of patients with solid tumors. Tesaro, Inc. is based in Waltham, Massachusetts. “
A number of other research analysts also recently commented on TSRO. FBR & Co boosted their price objective on shares of Tesaro from $65.00 to $93.00 and gave the company an outperform rating in a research report on Wednesday, June 29th. Jefferies Group cut shares of Tesaro from a buy rating to a hold rating and lifted their target price for the company from $53.00 to $75.00 in a research note on Thursday, June 30th. They noted that the move was a valuation call. Leerink Swann lifted their target price on shares of Tesaro from $65.00 to $95.00 and gave the company an outperform rating in a research note on Thursday, June 30th. Mizuho reiterated an outperform rating and issued a $67.00 target price on shares of Tesaro in a research note on Thursday, June 30th. Finally, Wells Fargo & Co. reiterated an outperform rating on shares of Tesaro in a research note on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $110.11.
Shares of Tesaro (NASDAQ:TSRO) traded up 1.14% during trading on Tuesday, hitting $116.64. 203,817 shares of the company traded hands. The stock’s market cap is $5.99 billion. Tesaro has a one year low of $29.51 and a one year high of $122.89. The firm has a 50 day moving average price of $97.53 and a 200-day moving average price of $70.11.
Tesaro (NASDAQ:TSRO) last announced its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.28) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.71) by $0.43. Tesaro had a negative net margin of 783.97% and a negative return on equity of 205.63%. The firm had revenue of $36.60 million for the quarter, compared to the consensus estimate of $4.98 million. During the same period in the previous year, the firm posted ($1.51) earnings per share. Analysts predict that Tesaro will post ($7.36) EPS for the current year.
In related news, VP Jeffrey H. Hanke sold 29,166 shares of the business’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $86.04, for a total transaction of $2,509,442.64. Following the transaction, the vice president now owns 29,166 shares of the company’s stock, valued at $2,509,442.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Martin H. Jr. Huber sold 408 shares of the business’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $108.12, for a total transaction of $44,112.96. Following the transaction, the senior vice president now directly owns 1,250 shares in the company, valued at approximately $135,150. The disclosure for this sale can be found here. Corporate insiders own 40.50% of the company’s stock.
A number of large investors have recently made changes to their positions in TSRO. KCG Holdings Inc. acquired a new stake in shares of Tesaro during the second quarter valued at about $228,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Tesaro during the second quarter valued at about $240,000. Bluestein R H & Co. acquired a new stake in shares of Tesaro during the second quarter valued at about $252,000. Neuberger Berman Group LLC acquired a new stake in shares of Tesaro during the second quarter valued at about $256,000. Finally, Amalgamated Bank acquired a new stake in shares of Tesaro during the second quarter valued at about $260,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.
TESARO, Inc is an oncology-focused biopharmaceutical company. The Company acquires, in-licenses and develops oncology product candidates. It operates in business of developing and commercializing oncology-focused therapeutics segment. It has in-licensed and are developing oncology-related product candidates, including intravenous (IV) rolapitant and niraparib, as well as product candidates under its immuno-oncology platform.